Canadians to Decide Next Person on New $5 Banknote
VANCOUVER — Bank of Canada Governor Stephen Poloz announced today that the central bank is initiating a public consultation process to determine the individual who should appear on the next $5 bill. The Bank of Canada’s decision follows the successful implementation of featuring Sir Wilfrid Laurier, Canada’s first francophone prime minister, on the $10 bill, a move that occurred after a public nomination period concluded in 2018. This latest initiative represents a shift towards incorporating public input in the selection of figures to grace Canada’s currency.
The process mirrors the approach taken during the selection of Laurier, which involved an open call for nominations of iconic Canadian women. The selection of Laurier was itself the result of a public review following the historic decision to recognize Viola Desmond. Poloz emphasized the bank’s intention to broaden the scope of this consultation, inviting Canadians to nominate any historical figure they deem worthy of consideration for the new $5 bill. He stated that the goal is to create a banknote that truly reflects Canada’s diverse heritage and values.
Following the successful introduction of Viola Desmond on the $10 bill, the Bank of Canada undertook a thorough review of its banknote selection process. This process highlighted the importance of engaging with the public and recognizing the significant role Canadians play in shaping the country’s identity and its monetary symbols. The decision to revisit the process for the $5 bill underscores a commitment to inclusivity and a desire to ensure that the currency’s imagery accurately represents the breadth of Canada’s historical achievements and influential figures.
Poloz indicated that the consultation will encompass a wide range of potential candidates, and that the bank is dedicated to receiving and carefully considering all submissions. The selection criteria will be based on a combination of historical significance, cultural impact, and representation of Canada’s diverse population. The bank intends to utilize online platforms and public forums to facilitate the consultation, aiming to maximize participation and ensure that a truly representative selection is achieved.
The announcement has already sparked considerable discussion within Canada, with many individuals and organizations expressing interest in proposing potential candidates. The Bank of Canada has proactively stated its commitment to a transparent and thorough process, assuring the public that every suggestion will be evaluated with due diligence. The move is expected to contribute to a renewed conversation about Canadian identity, historical figures, and the role of currency as a tangible representation of the nation’s values.
